Elderstreet VCT Plc Elderstreet Vct Plc : Publication Of Prospectus
08 December 2017 - 5:35AM
UK Regulatory
TIDMEDV
Elderstreet Draper Esprit VCT plc
Legal Entity Identifier: 2138003I9Q1QPDSQ9Z97
7 December 2017
Publication of Prospectus
The board of Elderstreet Draper Esprit VCT plc (the "Company") (formerly
Elderstreet VCT plc) is pleased to announce that the Company has today
published a prospectus (the "Prospectus") relating to an offer for the
subscription in respect of new ordinary shares (the "Offer").
The Offer will open on 7 December 2017. In respect of the 2017/18 tax
year, the Offer will close at 4.00 p.m. on 5 April 2018 and, in respect
of the 2018/19 Tax Year, it will close at 4.00 p.m. on 31 May 2018
(unless extended or fully subscribed earlier). The Offer is seeking to
raise up to GBP10 million with an overallotment facility of up to an
additional GBP10 million.
As set out in the Prospectus, Elderstreet Investments Limited ("EIL"),
the investment manager of the Company, will receive commission (the
"Promoter's Fee") from the Company of up to 5.5% of the application
amount due from an applicant in relation to their application for new
ordinary shares made under the Offer. The amount of Promoter's Fee for
any particular type of applicant is as set out in the Prospectus.
Out of its Promoter's Fee, EIL has agreed to be responsible for paying
the costs of the Offer (excluding any initial commissions or adviser
charges payable in relation to applications which are facilitated
through the pricing formula set out in the Prospectus), any trail
commission payable in the future and the registrar's costs in issuing
the applicable share certificates which will be payable by the Company.
Early investors will be entitled to a rebate from the Promoter's Fee as
set out in the Prospectus.
As EIL is a related party of the Company under the Listing Rules, the
payment of the Promoter's Fee by the Company to EIL is a transaction to
which Listing Rule 11.1.10R applies.
A downloadable version of the Offer Document is available from
www.elderstreet.com. The Offer Document will also be submitted to the
National Storage Mechanism and will shortly be available for inspection
at www.morningstar.co.uk/uk/NSM.
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Elderstreet VCT plc via Globenewswire
(END) Dow Jones Newswires
December 07, 2017 13:35 ET (18:35 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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